PSA International handles 74.24 m TEUs globally in 2017, up 9.8 pc

PSA
International Pte Ltd (PSA) handled 74.24 million TEUs of Containers at its
port projects around the world for the year ending December 31, 2017. The
Group’s volume increased by 9.8 per cent over 2016, with flagship PSA Singapore
Terminals contributing 33.35 million TEUs (+9 per cent) and PSA terminals
outside Singapore handling 40.89 million TEUs (+10.4 per cent). As one of the
leading global port groups, PSA participates in forty terminals including one
in Chennai port in 16 countries across Asia, Europe and the Americas including
flag ship operations in PSA Singapore terminals and PSA Antwerp.

Mr Tan
Chong Meng, Group CEO of PSA, said, "In 2017, the global economy saw some
recovery and bright spots of growth although the shipping industry continued to
face challenges as the huge wave of consolidation and alliancing in 2016 began
to manifest its full effects operationally. The word ‘disruption’ has moved
from being a buzzword to being the norm for most industries, reflecting the
accelerated pace of change and leaving no industry untouched.

As a
Group, PSA has demonstrated resilience and performed reasonably well against
the challenging backdrop and tough competition. Amid the many business and
technological forces and IT security threats buffeting us, we remain
unwaveringly committed to our core focus of adapting to and pre-empting the
changing needs of our shipping line customers. In addition, we are also
preparing for a future where logistics and supply chain needs are transformed
by new technology, trade, manufacturing and e-commerce dynamics.

We would
like to extend our thanks to our customers and partners for their continuing
support and patronage globally. I would also like to recognise and express my
deep appreciation to our unions and staff for their sustained commitment and
‘teamsmanship’ in a year of exponential change that contributed greatly towards
the successes of 2017.

As
we sail into 2018, we are cognizant that the world will continue to grapple
with uncertainty geopolitically, economically and socially. The way businesses
and consumers engage, transact and collaborate continues to evolve, and will
have further impact on the form and flow of the global supply chain. PSA
management, unions and staff will continue to journey closely alongside our
customers and partners as we contribute to the shaping of our industry amidst
the widening ripples of change: Together, with confidence and for a better
future.